Kraken parent Payward partners with Singapore Gulf Bank for 24/7 settlement

The integration allows eligible clients to deposit funds into Payward and execute trades immediately, regardless of weekends or standard banking cut-offs. Mark Greenberg, Payward’s chief commercial officer, noted that the current financial landscape often forces settlement to halt alongside the traditional business day, creating a friction point for digital-asset firms. By connecting to SGB Net, which now processes over $20 billion in monthly fiat volume, Payward gains a critical channel for real-time clearing.

Beyond settlement, Singapore Gulf Bank will leverage Kraken Prime as a liquidity source to price digital-asset trades for its own customers. This move mirrors a similar deal struck in September with SoFi, signaling a broader strategy by Payward to weave its services into regulated banking networks globally. While the initial rollout is restricted to U.S. dollar transactions for select institutional participants, both companies intend to expand to additional currencies and a wider user base in the coming months.

Singapore Gulf Bank, a wholesale bank regulated by the Central Bank of Bahrain and backed by the Mumtalakat sovereign wealth fund and Singapore’s Whampoa Group, has aggressively built out its payment corridors. The bank previously established links with Standard Chartered and J.P. Morgan to support its multi-currency clearing operations. As Payward continues to pursue its own regulatory milestones—including a pending application for a federal trust charter in the U.S.—this partnership serves as a key piece of its institutional infrastructure expansion.